Quentin Tarantino recently announced he would be creating non-fungible tokens, or NFTs, based on the 1995 classic “Pulp Fiction.” This news was met with backlash from his former longtime studio, Miramax.
Tarantino announced earlier this month his plans to release seven NFTs surrounding the film, including deleted scenes. The NFTs would contain art and commentary from the director himself.
The plans came to a halt when Miramax sent a cease-and-desist letter to the director, who has not responded. The studio claims to be in discussion about creating NFT partnerships including their library of films. Tarantino’s current mission “devalues those efforts.”
No matter! Tarantino is pressing on, despite the studio’s lawsuit. The “Tarantino NFT Collection” attempts to create a new type of NFT with secret content embedded. Of course, Tarantino would want to pioneer this. The “Pulp Fiction” NFTs will have a publicly viewable section along with content only viewable to the owner. The lucky owner will get a look at the original script portions and massive film nerd bragging rights.
No one could’ve fully predicted our current digital landscape, and Tarantino’s lawyer defends him by saying he was acting within his “Reserved Rights.” The director is just trying to get in on a fast-paced game, and who could blame him? Studios like Warner Bros. and Viacom are in the process of launching projects, partnering with NFT companies.
Miramax is fully defending its rights when it comes to the film, and with its popularity and success, I don’t blame them either. The situation definitely brings about the debate of who has ownership over this new media.
Of course, this probably could’ve been avoided if Tarantino would’ve given Miramax a call first. But that’s just not his style.